Our preference: short positions below 1.0685 with targets at 1.0570 & 1.0540 in extension.
Alternative scenario: above 1.0685 look for further upside with 1.0715 & 1.0745 as targets.
Comment: the RSI shows downside momentum.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
GBP/USD Intraday: the downside prevails.
Pivot: 1.2530
Our preference: short positions below 1.2530 with targets at 1.2365 & 1.2300 in extension.
Alternative scenario: above 1.2530 look for further upside with 1.2555 & 1.2585 as targets.
Comment: the RSI shows downside momentum.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
USD/CHF Intraday: rebound.
Pivot: 1.0060
Our preference: long positions above 1.0060 with targets at 1.0190 & 1.0220 in extension.
Alternative scenario: below 1.0060 look for further downside with 1.0020 & 1.0000 as targets.
Comment: the RSI shows upside momentum.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
USD/JPY Intraday: rebound.
Pivot: 111.30
Our preference: long positions above 111.30 with targets at 113.25 & 113.90 in extension.
Alternative scenario: below 111.30 look for further downside with 110.75 & 110.20 as targets.
Comment: the RSI shows upside momentum.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
